Growth is once again a top priority for 62% of CEO's post-economic uncertainty.

The 2024 Gartner CEO and Senior Business Executive Survey has identified this headline statistic in comparison to 49% of CEO’s prioritising growth in 2023, and the 2024 growth priority being the highest level in a decade.   

Perhaps an unsurprising data point given the global AI revolution and the innovation opportunity it presents all business (more on this in future posts), however attaining revenue growth in 2024 has become a different conversation than it was in 2023, or even pre-pandemic with some significant industry shifts, including:

• Buyers continue to become more highly educated and sophisticated in their expectations.  

• Supplier capabilities hold significant overlaps and lose differentiation.   

• Economic pressures have driven optimisation behaviour on strategy.   

• And let’s not talk about the skills challenge that has impacted many of us for a number of years in Australia.  

  
  

When leaders say ‘grow revenue’, maximising sales performance is often the primary focus for businesses.  It’s interesting that many organizations overlook revenue leakage as a critical organisational priority in relation to growth, or struggle to identify and address the leakage.  

MGI Research estimates 42% of companies experience some form of revenue leakage, and EY indicates that every company should expect to lose 1% to 5% of realised EBITDA to leakage. 

What is revenue leakage? Put simply, it is money your business has earned but has not collected, usually through poor processes, human error, inaccurate forecasting, aggressive discounting, missed repeat purchases, and a myriad of other causes. As the name implies, it's like a dripping tap: it occurs slowly over time and usually in small amounts, and so often goes unnoticed or undiagnosed until it reaches a critical mass.   

This is where specialised revenue leakage strategies come into play. 

Enter SHIFT Advisory, a consultancy that specialises in revenue optimisation services tailored for small to medium businesses. With capabilities across sales performance, revenue operations, and customer success, SHIFT offers a range of services designed to help businesses identify and plug the leaks in their revenue streams.  

One of the services offered by SHIFT is it's 'Lead to Cash Process Assessment' offer. This service is designed to provide your business with quick clarity on the health of your core revenue process (as the name suggests, from an identified lead through to cash in the bank).  The assessment will enable deeper conversations pinpointing areas of opportunity to improve where revenue may be either be lagged or worse, missed. Complementing a financial measure of your business’ Revenue Leakage, you can be confident in building your growth engine on top of a strong foundation.   

Whether it's transforming sales processes and tooling, optimising product pricing strategies, or streamlining business operations, the team at SHIFT will work closely with our clients to define solutions that remedy identified revenue leakage areas.   

If you're ready to solve your revenue leak problems and shift your revenue performance into a higher gear, contact SHIFT today.